Rupee settles 21 paise lower at 73.35 against US dollar

 The rupee depreciated 21 paise to 73.35 (provisional) against the US dollar on Monday as strengthening American currency and muted domestic equities weighed on the local currency.

At the interbank forex market, the rupee opened at 73.17, lost further ground and finally closed at 73.35 against the American currency, down 21 paise from its previous close.

During the session, the local unit witnessed an intra-day high of 73.03 and a low of 73.44 against the greenback.

The rupee had closed at 73.14 against the US dollar on Friday.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.15 per cent to 92.85.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 24.25 points higher at 38,381.43, and the broader NSE Nifty rose 4.75 points to 11,338.60.

Foreign institutional investors were net sellers in the capital market as they sold shares worth Rs 1,888.78 crore on Friday, according to exchange data.

Brent crude futures, the global oil benchmark, fell 1.01 per cent to USD 42.23 per barrel.

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The India Wire Team

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